Caleres Inc

Crocs reported second-quarter revenues of $1.18 billion, up 2.6% year on year and exceeding analysts' expectations by 2.7%, though the stock has fallen 6.8% since the results and trades at $124.38. The quarter was mixed for the casual footwear maker, as it beat analysts' EPS estimates but its EPS guidance for next quarter missed expectations. Among the 7 consumer discretionary footwear stocks tracked, Steven Madden posted the strongest quarter with revenues of $665.9 million, up 19.1% year on year and 4.8% above consensus, while Caleres delivered the weakest performance against estimates, with revenues of $695.5 million, up 5.6% but falling 1% short of expectations. Deckers reported revenues of $1.02 billion, up 5.7% and in line with expectations, and Wolverine Worldwide posted revenues of $506.4 million, up 6.8% and topping estimates by 0.9%. As a group, the 7 footwear stocks beat consensus revenue estimates by 1.3%, yet their share prices have declined 3.8% on average since the latest earnings results.

Nike reported second-quarter revenues of $10.97 billion, down 1.1% year on year but exceeding analysts' expectations by 1.1%, as the seven consumer discretionary footwear stocks tracked by the report collectively beat consensus revenue estimates by 1.3%. Steven Madden posted the group's best quarter, with revenues of $665.9 million, up 19.1% year on year and 4.8% above expectations, while Caleres delivered the weakest performance against estimates, reporting revenues of $695.5 million, up 5.6% but missing by 1%, alongside next-quarter and full-year EPS guidance that fell significantly short of expectations. Deckers reported revenues of $1.02 billion, up 5.7% and in line with expectations, and Crocs reported revenues of $1.18 billion, up 2.6% and 2.7% above expectations, though its next-quarter EPS guidance missed. Despite the broad revenue beats, footwear share prices have fallen 6.3% on average since the results, with Nike down 11.8% to $36.21, Deckers down 19.3% to $77.69, Crocs down 16.5% to $111.46, and Steven Madden down 6.8% to $40.46, while Caleres has risen 2.5% to $12.33.

Consumer discretionary footwear stocks posted a strong first quarter, with aggregate revenues beating analyst consensus estimates by 1.7%. Deckers reported revenues of $1.12 billion, up 9.6% year on year and exceeding expectations by 2.9%, while also delivering the highest full-year guidance raise among the seven companies tracked. Genesco recorded revenues of $487 million, up 2.8% and beating estimates by 2.9%, marking the biggest analyst estimate beat in the peer group. Caleres saw revenues of $666.6 million, up 8.5% and surpassing estimates by 1.3%, but its next-quarter EPS guidance missed expectations, sending shares down 11.1%. Crocs posted revenues of $921.5 million, down 1.7% yet beating estimates by 2.1%, though its next-quarter EPS guidance slightly missed, and its stock rose 24.8%. Nike reported revenues of $11.28 billion, flat year on year and in line with estimates, but its stock fell 14.4% as it had the weakest performance against analyst estimates among peers. On average, share prices of the group have held steady, up 4.7% since the latest earnings results.